All taxes are a drag on economic growth. It’s only a question of degree.
ALAN GREENSPANWe need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
More Alan Greenspan Quotes
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And she always has so much fun doing it. We make a good team.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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The process of innovation is, of course, never ending.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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I’m a better economist than I was a sax player.
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And the percentage changes in wage rates would be the same for all job grades.
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If I say something which you understand fully in this regard, I probably made a mistake.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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History cannot be reduced to a set of statistics and probabilities.
ALAN GREENSPAN